How to Diversify Your Income with Side Hustles

by Podcast

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Looking to boost your income? Learn how to find and launch a side hustle so Are you thinking of starting a side hustle, but you're afraid of burnout?

Learn how you can have the best of both worlds – diversify your income and earn money on the side while keeping it sustainable and fit around your schedule!

Boost and Diversify Your Income

All this month we’re focusing on ways to earn more.  The concern though is about the time and effort involved with building up another stream of income.

Most of us are busy and we're not looking to take on a second job at night or the weekends, especially if we have other responsibilities, including kids. This is where a side hustle can be a practical solution.

First, though, let's talk about some of the worries people have about starting a side hustle.

Type in ‘side hustle' on the web and you'll get some pretty ridiculous claims. Too many times it's this empty promise of getting rich quick.

Or it's all about the grind, where people brag about the crazy hours they put in.

When I say side hustle, I'm referring to part-time entrepreneurship that is built around your schedule. I know there are those who push the grind, but I’m not interested in sharing ways you can burn-out.

I want you to find and launch a sustainable business on the side. Today's show is designed to help you figure out if this is the right option for you. 

From the vault, I found a gem of conversation with Nick Loper. He’s the creator of Side Hustle Nation and author of multiple books. 

One thing I respect about Nick is how open he is about when things work and when they don’t. If you decide to pursue a side hustle, I want you to have a clear view of challenges that can come up and resources that can make things easier. 

In this episode we get into:

  • Why it’s important to diversity your income
  • give you some tips on how to be productive
  • How to use your side hustle money to speed your way to financial freedom

Resources to Help You Launch a Side Hustle

If you're ready to make the leap, here are some more resources to help you build another income stream.

Thank You to Our Sponsor Coastal!

learn more about our podcast sponsor coastal credit union

Support for this podcast comes from Coastal Credit Union. If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today!

We've been members for years and love their service and competitive rates on checking and savings accounts!

Rollover Your 401(k) Easily with Capitalize

We’re grateful for wonderful partners like Capitalize. Not only do they support the podcast, but they help make managing your money so much easier. 

Did you know that it’s estimated that there are currently over 24 million “forgotten” 401(k) accounts? In fact, the average American changes jobs every 4 years. 

And because of the Great Resignation, you or someone you know might be changing jobs even more 

It’s an extreme case of out of sight and out of mind. Is your old 401(k) in there somewhere, left behind at a job you're no longer with?

One huge benefit with an IRA is you get to choose how your money is invested, not your old employer. 

If you want to consolidate your old 401(k) and have more options with how you invest, it may be time to roll them over into an IRA.  

With Capitalize, they handle the process from start-to-finish – for FREE. They handle the process from start-to-finish, and yes that includes calling the 401(k) provider on your behalf. 

Find out how and get started today!

Support the Podcast! 

If you enjoyed this episode and found it helpful, here are some ways to support it.

  • Spread the word. If you have friends who could boost their savings, please share this episode with them on social media or just email the link!  
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This episode was originally published in November 2015. Shownotes have been updated March 2022.

About Elle Martinez

Elle Martinez helps families at Couple Money achieve financial freedom by sharing tips for reducing debt, increase income, and building net worth. Learn how to live on one income and have fun with the second..

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